⚠️Bitcoin Analysis (Mix of Patterns)⚠️
🏃♂️Bitcoin is moving in two descending channels: a ⚫️Black Descending Channel⚫️ and a 🟣Purple Descending Channel🟣. Also, it is currently moving in the 🔴Resistance zone($66,050-$64,520)🔴and near the Upper line of the descending channel and 50_SMA(Daily) and Time Reversal Zone(TRZ).
📈If we want to look at the chart from the point of view of the Classical and Harmonic patterns, Bitcoin has succeeded in breaking the lower line of the Symmetrical Triangle Pattern, and it seems that a Bearish 5-0 Harmonic Pattern is forming near the upper line of the 🟣descending channel🟣.
💡Before concluding, let's take a look at the Market Cap USDT Dominance% (USDT.D%) chart.
💡USDT.D% broke the 🔴Resistance zone(4.72%-4.53%)🔴 as I expected and is currently pulling back to this zone, the pullback structure seems to be forming with the Falling Wedge Pattern, I expect USDT.D% to rising again and this It will cause another decline in the cryptocurrency market.👇
🔔I expect Bitcoin to start falling again based on the above explanation.
